SAVE $80,000 BUYING INSTEAD OF RENTING THIS 2 BEDROOM CONDO.
With to-days record low Mortgage Interest rates, and today High Rents it’s cheaper to Buy and Own your own Home that to rent.
Here is an example.
I just listed a 2 bed 2 bathroom 2008 Condo for $269,900 at 217-1315 Esquimalt Rd the current market rent for this unit is $1300 Per Month. See inside with my Virtual Tour.
If you put 25% down payment ….Owning versus Renting shows us that you’ll save $80,000 over the next 5 Years.
I have a Mortgage Calculator on my web site that not only helps you determine your mortgage payment it also calculates Mortgage payments versus Renting over 5 years
Try it yourself, go to my Mortgage Page and add in your rent and down payment along with a purchase price.
Here are the calculation results using my Condo Listing with 25% down($70,000) and rent of $1300 PM
The Buying versus Comparison shows us you’ll save $80,000 in 5 Years Owning instead of Renting
With 10%($27,000) down payment the saving are still in favour of Buying, with a $79,000 Saving in 5 Years Buying versus Renting.
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